Alibaba Makes Bold Bet On AI📱ELF NVDA 📈 NGG CYTK📉

FlowBank's hand-curated fresh financial news [header_noDither] Alibaba Bets on AI to Boost Global Cloud Expansion Alibaba is expanding its cloud computing presence globally by adding availability zones in Mexico and planning new data centers in Malaysia, Thailand, and South Korea. The company aims to rejuvenate its cloud division, which has faced setbacks, by leveraging AI products like its Tongyi Qianwen large language model. Despite currently holding a small share of the global market, Alibaba is focusing on signing more customers and enhancing its AI capabilities to compete with major U.S. tech giants and strengthen its position in international markets. WHAT'S MOVING [Group 1742 (3)-3] [Start Trading](113/cXx8Z04/VX2HLR40KGY6VffMRH3LYFy6VXkGBG5fsBQWN5BW0RK2-ZVTW6N1vHY6lZ3kqW7bgDRW3rzFTXN73Mbg74xnBJV9P_DZ2myNfQLkSf-75k8cW1N-2Tp4dpSvMW3-4d5L7rvbDBW8hK2j66WCpyPVHwydF1WT0BNN2NSDZx8VcrmW545cTW7mtt9sN7yPNdDZLnjhW7_hWHk7Sqxl3W4srx-h1dtXSlW1qlxtf15j8xsVCDQbh2q4SStW2DLv9V8ZbB2PW9f0FlH983jTsW47P6bq6sJZ6fVfFx8C2gPgQ0W5RJTf473fxtpW2gxJdl98THNfVZ9bqn5WkyY0f4ySJK004) [Group 3 (3)-4] Boeing Boeing CFO Brian West forecasts negative free cash flow in 2024 due to production issues and delayed aircraft deliveries, causing a 7% drop in shares. [Group 1754 (3)-1] SMIC China's SMIC became the third-largest chip foundry by revenue in Q1 2024, holding a 6% market share, driven by strong demand and government support despite U.S. sanctions. [Group 1753 (3)-1] Baidu Baidu CEO Robin Li predicts AGI is over 10 years away, contrasting Elon Musk's 2026 forecast, emphasizing current AI limitations and calling for faster development at VivaTech. WHAT'S COMING UP? USD: Durable Goods Orders (MoM) (Apr): Exp. -0.9% v Prev. 2.6% IN OTHER NEWS Wall Street Stock futures remained steady Thursday evening after the Dow Jones Industrial Average had its worst session in over a year. Despite gains in AI stocks, over 400 S&P 500 stocks fell. The S&P 500 dropped 0.74%, the Nasdaq Composite declined 0.39%, and the Dow fell 1.53%, driven by a 7.6% drop in Boeing. [Group 1769] Europe European markets closed slightly higher on Thursday, with the Stoxx 600 index up 0.06% as traders reviewed U.S. Fed minutes and eurozone economic data. Technology stocks rose 1.08%, boosted by Nvidia's strong Q1 results. Utilities fell 2.78%, led by an 11% drop in National Grid after announcing a £7 billion ($8.9 billion) equity raise. MARKET INSIGHTS Sell in May and Go Away? How Market Forces are Shaping the Rest of 2024 “Sell in May and go away” is an old Wall Street adage based on the assumption that historical market returns tend to cluster around a six-month window beginning in November and ending in April. [Read more](113/cXx8Z04/VX2HLR40KGY6VffMRH3LYFy6VXkGBG5fsBQWN5BW0R62-ZVTW5BW0B06lZ3ksVBZ1Gn5-n8tlN8swlYwvFZVHW5ScHf-1XlkmPW58HNwd4g6Mg9W5ZLQCT32-t75W1XPb_F8HCQ3gW2sjVY87KRbTFW2HCFDk1FdhPBW8SJl-R8-zscSVd5rkr95nnkTW2Tc07t55TRhsW4Z42jf4QK_LhW98S2TY60D2VVN8wVwYDlsHd6W35BCVT8-kV1-W1-H0SV4dvT3_W3DjV0n6Yf6sPW5KWydN97LQVgf6W1rBF04) Please note that due to market volatility, some of the prices may have already been reached and scenarios played out. The information above is not investment advice. 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